Q. Consider the following statements:
1.Contactless payments utilize Near Field Communication (NFC) or RFID technology to complete transactions without physical contact.
2.For a contactless transaction to be successful, the payment card must be placed at least 1 meter away from the Point of Sale (PoS) terminal.
Which of the statements given above is/are correct?

[A] 1 only

[B] 2 only

[C] Both 1 and 2

[D] Neither 1 nor 2

Answer: A
Notes:

Explanation:

  • Statement 1 is correct: These technologies allow for secure, tap-and-go payments.
  • Statement 2 is incorrect: It requires close proximity, usually within a few centimeters, to prevent accidental or fraudulent triggers.
Blog
Academy
Community